CFO Series: Driving Efficiency

Overview

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“It’s the little things that matter.” We are so busy that we sometimes fail to do the fundamental duties as well as we should. How can we get more out of every audit, reduce the pressure, and streamline the process? What lessons can we learn from diabolical and brazen fraud activities? We need to re-examine our internal controls so they will be effective today and will scale to remain effective in the future. Even the Statement of Cash Flows can be made much more effective – we will show you how.  These ‘little things’ can and do have an outsized impact. We will review today’s best practices. We can all learn from the mistakes made by others so we will be even more efficient. .

Highlights

Audit Survival Toolkit: Tactics to Reduce Stress and Get Through Audits with Confidence
• Types of audits: external, internal, compliance, regulatory
• Objectives of each audit type and how they differ
• Aligning management’s role with auditor expectations
• What to expect in the planning phase
• Fieldwork survival tips and communication best practices
• Documentation dos and don’ts
• Responding to findings and building effective action plans
• Avoiding common audit pitfalls

Internal Controls That Matter: Protection with Simple, Smart, and Scalable Practices
• What internal controls are—and what they are not
• Why even small organizations need controls
• COSO and the five core components of a strong internal control system
• Common control failures and real-world consequences
• Examples of scalable financial, operational, and compliance controls
• Tailoring controls to your organization’s size and risk profile
• Embedding internal controls into daily operations
• How to monitor, evaluate, and adapt controls over time

Cash Flow Clarity: Effectively Communicate Cash Flows to Drive Better Decisions
• The importance and structure of the cash flow statement
• Understanding operating, investing, and financing activities
• Presenting the statement using the “Sources and Uses” approach
• Telling the business story through cash flows and alternative reporting methods
• Identifying key drivers of cash and liquidity
• Bridging the gap between accrual accounting and understanding cash
• Communicating effectively with CEOs, boards, and non-financial stakeholders

Amazingly Crazy Fraud Cases – Fraud So Wild It Shouldn’t Be Real
• Psychological tricks and tactics used by fraudsters
• How fraudsters avoid detection
• Red flags that were missed, and why
• Cultural and organizational blind spots
• How internal controls failed or were bypassed
• Lessons learned from each case—and how to apply them
• How to strengthen fraud awareness without creating fear
• Key questions auditors and leaders should ask earlier

Prerequisites

At least six (6) months of professional financial statement analysis experience and/or at least six (6) months of professional experience in preparing or reviewing accounting processes and reports; experience working with internal clients or external clients and business leaders. Prefer some exposure to ethical dilemmas.

Designed For

Corporate financial leaders, financial managers, CEOs, CFOs, controllers, accountants, board members, advisors, and consultants; CPAs in public practice and CPAs in industry; business owners, entrepreneurs, anyone interested in internal controls, process improvement, and professionals who are interested in streamlining workflows, realizing cost savings, increasing efficiencies and increasing value.  

Objectives

At the conclusion of this program, participants will be able to:

• Distinguish between internal, external, compliance, and regulatory audits and align management’s role with auditor expectations
• Prepare effectively for audit planning, fieldwork, and reporting to reduce stress, improve communication, and streamline the audit process
• Respond constructively to audit findings and implement practical corrective action plans
• Define the purpose and core components of effective internal control systems
• Design and implement scalable, right-sized internal controls tailored to organizational risk
• Monitor and adapt internal controls to maintain long-term effectiveness and prevent governance failures
• Interpret and communicate cash flow information clearly using practical, decision-focused approaches
• Bridge the gap between accrual accounting results and cash flow realities to support better leadership decisions
• Identify common fraud red flags and understand how fraudsters exploit control weaknesses and cultural blind spots
• Strengthen professional skepticism and apply lessons from real-world fraud cases to enhance prevention and detection
• Improve operational efficiency by applying practical best practices across audits, controls, reporting, and fraud awareness

Preparation

None.

Notice

Attend in-person or online